Financial Performance - For the fiscal year ending March 31, 2024, the company reported a revenue of HKD 32,265,000, a decrease of 33.1% from HKD 48,179,000 in the previous year[15]. - The gross profit for the year was HKD 2,591,000, down 45.2% from HKD 4,734,000 in the prior year[15]. - The company incurred a total loss of HKD 30,710,000 for the year, compared to a loss of HKD 25,518,000 in the previous year, representing a 20.5% increase in losses[15]. - Basic and diluted loss per share was HKD 3.45, compared to HKD 3.13 in the previous year, indicating a worsening of the loss per share by 10.2%[15]. - The company reported a pre-tax loss of HKD 30,710,000 for the fiscal year 2024, compared to a pre-tax loss of HKD 25,513,000 in 2023, reflecting a worsening of approximately 20.0%[26][27]. - The net loss attributable to shareholders for the year was HKD 30,704,000, compared to a loss of HKD 25,512,000 in the previous year[57]. - The group recorded a loss attributable to owners of approximately HKD 30,700,000, an increase of HKD 5,200,000 compared to HKD 25,500,000 in 2023, mainly due to an increase in impairment losses on financial assets of approximately HKD 3,800,000[89]. Asset and Liability Management - Non-current assets decreased significantly to HKD 13,000 from HKD 324,000 year-on-year, reflecting a decline of 96.0%[16]. - Current assets also saw a decline, totaling HKD 57,758,000, down 27.4% from HKD 79,525,000 in the previous year[16]. - Total liabilities increased to HKD 40,677,000 from HKD 32,045,000, marking a rise of 27.0%[16]. - The company's net assets dropped to HKD 10,820,000 from HKD 41,530,000, a significant decrease of 74.0%[16]. - The company's net asset value decreased to HKD 10,800,000 as of March 31, 2024, down from HKD 41,500,000 in the previous year[73]. - The group’s net current assets as of March 31, 2024, were HKD 17,100,000, a decrease from HKD 47,500,000 in the previous year, primarily due to impairment losses on financial assets and an increase in accrued expenses[101]. - The group's capital-to-debt ratio as of March 31, 2024, was 36.7%, up from 13.1% in 2023, indicating a substantial increase in financial leverage[120]. Revenue Breakdown - The revenue breakdown shows that consumer goods sales contributed HKD 30,364,000, down from HKD 35,317,000, indicating a decrease of about 14.0% year-over-year[46]. - The company reported a total of HKD 29,674,000 in cost of goods sold for the fiscal year 2024, down from HKD 43,445,000 in 2023, reflecting a decrease of about 31.6%[52]. - The consumer products and fashion apparel segment generated revenue of HKD 30,400,000 for the year ended March 31, 2024, down from HKD 35,300,000 in 2023[92]. - The loan business generated revenue of HKD 1,900,000 in 2024, down from HKD 2,500,000 in 2023, but the company remains optimistic about market demand for this segment[66]. Operational Efficiency - For the year ended March 31, 2024, operating expenses were HKD 15,500,000, a slight decrease of 1.3% compared to HKD 15,700,000 in 2023, primarily due to reduced expenditures during the year[88]. - The company maintained strict control over accounts receivable, with total unsecured receivables at HKD 22,034,000 as of March 31, 2024, down from HKD 26,320,000 in the previous year[33]. - The average credit period extended to customers in the consumer goods segment was 30 days, with the board regularly reviewing overdue balances[32]. Impairment and Financial Health - The impairment loss on financial assets measured at amortized cost increased to HKD 15,826,000 in 2024 from HKD 12,001,000 in 2023, representing a rise of about 31.0%[52]. - The group will consider comprehensive and specific provisions for impairment of receivables, especially in light of the economic downturn affecting borrowers' repayment capabilities[98]. Strategic Initiatives - The company plans to expand its business, leveraging technological capabilities and effective marketing strategies to enhance product value and drive growth[66]. - The group aims to expand its sales channels in department stores and offer flexible credit terms to customers to grow its business[93]. - The group plans to enhance brand image through the development of new intellectual property and participation in various marketing activities, including trade fairs and exhibitions[93]. Compliance and Reporting - The company has adopted new Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the consolidated financial statements in the foreseeable future[21]. - The company did not apply early adoption of the newly issued Hong Kong Financial Reporting Standards that are effective from January 1, 2025, or later[41]. - The board did not declare an interim dividend and does not recommend a final dividend for the year ending March 31, 2024[137]. Investment and Financing - The group has adopted a passive investment strategy to maintain a diversified investment portfolio to mitigate risks[123]. - The group has no available bank financing as of March 31, 2024, compared to zero in 2023[121]. - The group has no significant asset pledges or contingent liabilities as of March 31, 2024[126]. - The total employee cost for the year ending March 31, 2024, was approximately HKD 2,100,000, unchanged from the previous year[129].
富誉控股(08269) - 2024 - 年度业绩